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Sri Lankan firm’s debenture issue gets oversubscribed

Commercial Credit's issue of 5 million debentures, each priced at Rs. 100, has been oversubscribed.

The Sri Lankan firm came out with the issue of this 5 year tenor Unsecured Subordinated Redeemable Debentures in a bid to raise Rs. 500 million.

Commercial Credit initially issued 2.5 million debentures to raise Rs. 250 million, with an option to issue further 2.5 million debentures to raise a similar amount at the same price, in case of an over-subscription.